China's Alibaba chief silent on Yahoo stake

The head of Chinese Internet giant Alibaba, Jack Ma, Saturday gave no hint of the future of Yahoo!'s stake in his firm nevertheless said he wasn't responsible for the recent ouster of its chief.

The conference

Speaking at the conference, Ma said he aimed to shake up sectors traditionally controlled by Chinese state companies, just as banking, telecommunications and logistics.

To that effect, Ma said Alibaba plans to invest in logistics, even though he gave no details. Use of wireless Internet has as well posed a challenge to China's state-backed telecom companies, he said.

The era of mobile Internet

"In the era of mobile Internet, we can provide customised services with very low cost," said Wang Jian, chief architect of Alibaba Group and president of Alibaba Cloud Computing.

China has near 500 million Internet users. Nevertheless the country had more than 900 million mobile phone subscribers at the end of April, highlighting the potential for mobile Internet use.

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